Determining the Influence of Credit Ratings on Corporate Bond Market Pricing by Using Significance Testing

An empirical analysis is made on the influence of credit ratings upon corporate bond market pricing by using significance testing with selection of corporate bonds issued in the years of 2008,2009 and 2010 for the study samples.The results show: that the credit rating information has become the main basis for corporate bond market investors in China to make investment decisions with the market investors highly relied on the credit rating information;that credit rating information in the capital market has significant influence upon China's corporate bond market pricing;and that China's corporate bond market pricing is efficient.